The Sarah G. McCarthy Memorial Foundation, established in 1948 in memory of the donor’s mother, provides grants to charitable organizations that are either located in Peabody, Massachusetts, or that directly benefit its residents. Administered through the Massachusetts office of Bank of America’s Philanthropic Solutions division, the foundation supports a range of focus areas including education, health, food and nutrition, agriculture, human services, youth development, housing and shelter, arts, culture, and humanities.

The Foundation operates on a biannual grant cycle, with proposal deadlines on March 31 and September 30. Decisions are made in June and December. Grants may be awarded for general operating support, program support, or capital improvements that enable program activities. In rare cases, the foundation may consider emergency funding. Grants may be awarded on a year-to-year basis for up to five years, though exceptions may be made upon demonstration of need. Site visits may be conducted as part of the decision-making process.

Grants typically range from $2,000 to $15,000 depending on the alignment of the request with community needs, demonstrated collaboration, and the potential number of individuals impacted. Matching obligations may be required, and grants can be paid over multiple years. All prior grant recipients must submit a one-page expenditure report before any new grant applications will be considered.

Applications must be submitted online through the foundation’s portal, with support documents including procedures and help files provided in PDF and Word formats. All inquiries should be directed to the Massachusetts grantmaking office at ma.grantmaking@bofa.com, and applicants should reference the foundation name in the subject line.